ADB “Compensa Vienna Insurance Group”
“Compensa Vienna Insurance Group” is a private limited liability company registered in Lithuania which started its activities in the Baltic States as from 1 January 2016. There was a Polish non-life insurance company Compensa TU S.A. operating in Lithuania until 2016. It was Vienna Insurance Group’s branch in Lithuania which has been operating in Lithuania since 2010. There were structural changes made to Compensa TU S.A. as the company grew and expanded its operations in the Baltic region. Vienna Insurance Group’s branch in Lithuania has transferred its business as a set of assets, rights and liabilities to a new joint-stock insurance company – Compensa Vienna Insurance Group.
Compensa Vienna Insurance Group is part of “Vienna Insurance Group” (VIG). There are around 50 companies operating in 25 countries that currently employ more than 25,000 employees within VIG group. We rely on almost 200 years of experience in the insurance sector, which allows us to take care of every customer effectively. We develop insurance solutions based on both the personal needs of our customers and the specificity of their residential area, so we are one of the leaders in the insurance sector in Austria and Central and Eastern Europe.
ADB Compensa Vienna Insurance Group started its activities in Lithuania and other Baltic countries as an independent insurance company as of 1 January 2016 and until then, Polish non-life insurance company Compensa TU S.A. was operating in Lithuania. Branch of “Vienna Insurance Group” carried out its activity in Lithuania since 2010.
Well-known rating agency “Standard & Poors” has confirmed the A+a with a ‘stable’ outlook of Vienna Insurance Group stable outlook. This means that VIG is one of the best-rated companies in the ATX index of the Vienna Stock Exchange. Vienna Insurance Group shares are listed on the Vienna Stock Exchange and the Prague Stock Exchange. Majority of VIG shares – 70 % – belong to “Wiener Städtische Versicherungsverein” and the rest of the shares are free.
The responsibility of Vienna Insurance Group is to provide its customers with financial protection against potential risks. The Group follows a strategy that helps to develop different brands in different markets. Its success and relationship with customers depend on each brand and practical knowledge accumulated in the local market.
Vienna Insurance Group focuses not only on the markets of Austria but also on the markets of Central Europe. More than half of the Group’s premiums written are generated in Central European countries. The activities of the Vienna Insurance Group, which are concentrated in this region, primarily reflect economic growth forecasts, which are expected to double in Western Europe. In addition, fewer insurance contracts have been concluded in the markets of Central Europe as compared to the EU average.